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Finance 101

City of Kamloops. Thompson-Nicola Regional District. tnrd.ca. kamloops.ca. Finance 101. Hospital Districts. LEGISLATIVE REQUIREMENTS. Hospital District Act. Part 3 – Functioning of Boards. City of Kamloops. Thompson-Nicola Regional District. kamloops.ca. tnrd.ca. Purpose.

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Finance 101

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  1. City of Kamloops Thompson-Nicola Regional District tnrd.ca kamloops.ca Finance 101 Hospital Districts

  2. LEGISLATIVE REQUIREMENTS Hospital District Act Part 3 – Functioning of Boards City of Kamloops Thompson-Nicola Regional District kamloops.ca tnrd.ca

  3. Purpose • HDAsection 20: • to establish, acquire, construct, reconstruct, enlarge, operate and maintain hospitals and hospital facilities; • to grant aid for the establishment, acquisition, reconstruction, enlargement, operation and maintenance of hospitals and hospital facilities; • to be the entity that borrows funds required for the above purposes, and act as the taxing authority to tax for the funds to pay said debt; • to act as the agent of the government in receiving and disbursing money granted out of the hospital insurance fund or the Government of Canada

  4. Regional Hospital Board CC section 8: • Basically consists of the Directors on the board of the Regional District, with some tweaks

  5. Regional Hospital Board

  6. Provisional and annual budget HDA section 23: • Must prepare and adopt, before a prescribed date each year, a provisional budget for the following calendar year • Including detailed estimates of expenses, interest and principal on debt • List of all capital expenditures with description of each project • Detailed estimates of revenues, surpluses/deficits • Final Annual budget must be adopted by bylaw on or before March 31

  7. Capital Bylaw HDA section 32: • In order to borrow or spend money to meet capital expenditures, must prepare and enact a capital bylaw for this purpose. • must be in a form required by the minister • must include provisions that the minister considers necessary or that are prescribed by the regulations and • may, subject to the above, provide for the issue of securities to raise the net sums required if those costs are not to be paid or from any other source.

  8. Temporary borrowing for operations HDAsection 31: • A board may, by resolution, either before or after the preparation of its annual budget, borrow for purposes other than capital expenditures, by way of temporary loan, sums the board may deem necessary to meet the current operating expenditures of the board for the year, including the amounts required for principal and interest falling due within the year on any debt of the board, but all money so borrowed must be repaid within 9 months of the date of the borrowing.

  9. City of Kamloops Thompson-Nicola Regional District tnrd.ca kamloops.ca Questions?

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